Cummins Inc.’s third quarter revenues are down 2% from the same quarter in 2025 while North American sales have decreased 4% as the company makes its way through a previously forecast demand slowdown.

Third quarter revenues of $8.3 billion decreased 2% from the same quarter in 2024. Sales in North America declined 4%, and international revenues increased 2% due to higher demand in China and Europe.

Net income attributable to Cummins in the third quarter was $536 million, or $3.86 per diluted share, compared to $809 million, or $5.86 per diluted share, in 2024. The current quarter results include Accelera non-cash charges of $240 million, or $1.73 per diluted share. The tax rate in the third quarter was 32.7% due primarily to non-deductible costs related to Accelera non-cash charges and $36 million or $0.26 per diluted share of tax costs related to the implementation of the One Big Beautiful Bill Act.

“Cummins delivered strong operating results in the third quarter, driven by profitable growth in our Power Systems and Distribution segments, due in part to continued rising demand for backup power for data centers. Effective cost management across the company helped navigate through the anticipated sharp decline in the North American truck market,” said Jennifer Rumsey, Cummins Inc. chair and CEO. “During the quarter, we recorded non-cash charges related to our electrolyzer business within the Accelera segment, reflecting policy-driven shifts in hydrogen adoption expectations. Due to the significantly weaker prospects for demand, we are undertaking a strategic review of the electrolyzer business.”

Earnings before interest, taxes, depreciation and amortization (EBITDA) in the third quarter were $1.2 billion, or 14.3% of sales, compared to $1.4 billion, or 16.4% of sales, a year ago. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) is a measure of a company’s operating profitability. It is calculated by adding back interest, taxes, depreciation, and amortization to a company’s net income, or by adding depreciation and amortization to its operating income (EBIT). This metric is useful for comparing a company’s performance across different jurisdictions or capital structures.

Engine Segment sales, which would include the engines made at the Jamestown Engine Plant, decreased 11% to $2.6 billion in the third quarter,while the segment’s EBITDA came in at $261 million, or 10% of sales, compared to $427 million, or 14.7% of sales, for the third quarter of 2024. Revenues decreased 12% in North America and 5% in international markets due to lower medium-duty and heavy-duty truck demand in the United States and Mexico.

Cummins will not be providing an outlook for revenue or profitability for the remainder of 2025.

“While uncertainty in a number of our end markets persists, our strong third quarter results are a testament to our diversified portfolio, effective cost discipline and commitment to delivering for our customers,” said Rumsey. “Cummins continues to operate from a position of strength as we navigate this dynamic environment, and we look forward to reinstating our financial guidance in February when we provide our outlook for 2026.”

Among the company’s third quarter highlights are a memorandum of understanding between Cummins and Komatsu to collaborate on the development of hybrid powertrains for surface haulage heavy mining equipment. The companies will add hybrids to their product roadmaps of power technology solutions for progressive decarbonization in large mining haul truck applications.